Refinancing can be viewed in two ways - as the attraction of cheap credit institutions Interbank loans or credits of the CBR.
In another context refenansirovanie to the borrower - a receipt in the bank a new loan on more favorable conditions for full or partial repayment of the previous one.
Refinancing of consumer loans
If the borrower is experiencing temporary financialdifficulty, he can ask your bank to provide loan restructuring - namely, an increase in loan period when changing (reducing) the size of the monthly payment. It should be noted that not all banks are going to make concessions to the borrower. Then it is necessary to try to refinance the loan.
credit refinancing scheme is as followsmanner. The borrower takes out a loan with another bank and use it to repay the debt of the old. Refinancing can not only reduce the monthly payments, but also reduce the interest rate, and in some cases - to change the currency of the loan and replace multiple loans with one.
Today refinancing possible in almost any major bank. Most often, the borrower to refinance the mortgage, at least - car loans and consumer loans.
Today, up to 10% of total lending accounted for by refinancing. Banks tend to refinance loans with a term of more than 6 months.
In the case of a housing loan is worthrefinancing exercise just before reaching five years of payments and the debt balance of over 30%. This difficulty may arise with renewal of the contract, as Credit is essentially a mortgage.
When you refinance the borrower's solvencyestimated by the bank as a direct loan. Also taken into account the credit history of the borrower. Thus, the presence of arrears of payments is the most likely factor in the refusal to grant a new loan.
The package of documents to refinance completelya package of documents for registration of a conventional loan. It is in most cases - a passport, reference 2-PIT, a loan agreement, documents about the balance of the principal debt and the debt on the loan. For mortgages and mortgage documents are required.
In general, it does not always look for the meaning of itrefinancing program in the bank, because you can just issue the other consumer credit, without specifying the purpose of receiving it. Sometimes to get a loan is easier than refinancing.
Refinancing on the interbank market
In the interbank credit market of one of theforms of refinancing of commercial banks are loans CBR. A key parameter in this case is the rate of refinancing. It is determined on the basis of the dynamics of the economy and inflation.
The refinancing rate - the interest rate on an annualized basis, subject to the Central Bank for the payment of loans, the central bank provided the credit institutions. Today it is 8.25%.
It was from her independent banks interest rates on loans and deposits. Banks attract deposits at a rate below the rate of refinancing and loans - under the percentage of exceeding it.